bank rates

CD Rates Leaderboard For Jan. 17, 2012: Doral Bank Direct Cuts Long-Term Rates

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.Doral Bank Direct has cut its long-term CD rates — in two terms by nearly a third of a percentage point — dropping it from the top of our CD Rates Leaderboard in the 3-year term.

It now pays 1.50% APY for 36-, 48- and 60-month CDs, down from 1.65% APY on its 36-month CD and 1.80% on its 48- and 60-month CDs.

The rate cuts mean Doral Bank Direct — the online division of Doral Bank, with branches in New York and Florida — now owns the second-best 3-year CD; it no longer ranks among the top 5-year CDs we track.

AmTrust Direct ( now offers the top nationally available 36-month CD rates. It pays 1.55% APY with a $1,000 minimum deposit. AmTrust Direct is the online division of Cleveland-based AmTrust Bank, a division of New York Community Bank.

As we mentioned earlier this month, there are options available if you’re looking for a higher yield and you’re willing to put in a little work. Here are two places to look: Credit unions that offer membership to savers in all 50 states or local banks and credit unions.

Among the best nationally available 36-month credit union CDs:

Melrose Credit Union ( pays 1.91% APY with a $5,000 minimum deposit. This New York institution raised its CD rates in August and has left them unchanged ever since. Melrose is open to anyone who pays a $1 membership fee and deposits $25 in a savings account.

Fort Knox Federal Credit Union ( pays 1.80% APY with a $500 minimum deposit. Anyone can qualify for membership by joining the American Consumer Council and paying a $15 credit union membership fee.

Here are some of the top local deals we’ve found recently:

Gulf Coast Federal Credit Union ( pays 2.02% APY with a $500 minimum deposit. You must be a member of this credit union to purchase CDs, and membership is limited to people who live, work, worship or go to school in Nueces, Jim Wells and San Patricio counties in Texas.

Kentucky Neighborhood Bank ( pays 2% APY with a $1,000 minimum deposit. You must purchase these certificates of deposit at a bank branch.

First Choice Bank ( pays 1.85% APY with a $1,000 minimum deposit. You don’t have to be a New Jersey resident to purchase these certificates, but you must purchase them at a bank branch.

Banks qualify for our rankings by accepting deposits from all savers, regardless of where they live, either online or through the mail.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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One Existing Comment
  1. Kathy at Bankaholic said:
    on March 8th at 10:11 am

    You can still get these rates for Doral Bank Direct, AmTrust Direct and Gulf Coast FCU. All of the others have dropped their 36-month CD rates.